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How to Save Money Quickly with a No-Spend Month
You win when you take control of your money
I’ve never been able to wrap my head around money management.
As a young adult, I accrued library fines, unpaid parking tickets, and credit card debt. I never considered my future self and her financial stability. I lived for the moment, but not in the healthy sense of the phrase.
Marriage saved me. My caring husband, afraid I would ruin his credit score, managed our money. But almost three decades later, after a gray divorce, my nemesis, money management, raised its head again.
My financial expertise improved thanks to learning a few of my husband’s tips and tricks. Automatic payments became my best friend. I no longer had credit card debt, and my savings were securely held in a high-interest online savings account — currently, you can earn up to 5%.
However, I didn’t acquire a complete set of money management skills, which is why I plan to do a no-spend month in January 2025. The same no-spend idea can be applied to any week, month, or year.
Here’s the problem: My monthly expenses are higher than my income.
That may not be unusual for retired people. Like me, many older adults depend on their retirement savings to fill the gap between…